Obama presses mortgage reform, swipes Romney

3/6/12 2:38 PM EST

President Obama took another swing at the housing crisis in his press conference, taking a swipe at his potential Republican rival Mitt Romney in the process.

The president announced a new plan to cut refinancing fees for any government-backed mortgage, along with new protections for service members harmed by “unscrupulous” banks and lenders.

The refinancing discounts for FHA-backed mortgages potentially can “save the typical family an extra $1,000 a year,” the president said, speaking Tuesday in his first news conference in four months. “It’s like another tax cut that will put more money in people’s pockets.”

For service members, the president outlined a new agreement with banks to review foreclosure processes since 2006 and compensate anyone who wrongfully lost a home.

“If you are a member of the armed forces… you will be substantially compensated” for what the banks have done, he said. The settlement also includes protections to “make sure you aren’t forced into foreclosure because you have a permanent change of station” as well as “more foreclosure prevention for every man and woman who has served this country in harm’s way.”

He also used the unveiling to poke at Romney for his stance on the housing crisis. In criticizing the administration’s so-far lackluster attempts to stem the ongoing mortgage crisis, the former Massachusetts governor suggested the housing market would right itself after the free-fall – and the government didn’t need to get involved.

“I’m not one of those people who think we should sit by until the housing market hits bottom,” Obama said.